You can see it all the time: one day you sign up for an online casino and the next day there are 2 or 3 more options that did not even exist the day before. Somehow a few new online casinos have popped up overnight! Many people wonder why this is such a crowded industry with so many new companies trying to enter the market all the time.
There are three main reasons that can help to explain why there is such a crowd of new online casinos:
GAMBLING ONLINE IS A MULTI-BILLION DOLLAR INDUSTRY
Some estimates of the international online gaming market suggest that it earns more than $11 BILLION annually. That is a huge economic pie that many people want a piece of, so they will attempt to capture some of the online gambling traffic by starting their own new online casino.
SETTING UP AN ONLINE CASINO IS EASY
A new online casino as Luckland Casinos or Magical Vegas does not take much effort or manpower to create or run. Some casinos online are actually run by only the founder in their early stages, with more staff being included as they get a larger user base. The problem that most people run into when starting an online casino is the gambling laws in many nations, which vary depending on where you are. If you start you company from the right location, you may get around a lot of legal issues that may have popped up more strict countries.
This is why most new online casinos come from places like Costa Rica or other countries with little or no online gambling restrictions.
NEW ONLINE CASINOS EARN LARGE MARGINS
Because of the low costs involved in starting this type of business, owners of a new online casino can walk away with a lot of money. Of course, they must be careful to keep enough money in the business to pay out winnings that their users earn, but even with this requirement they can still make a healthy sum of money off of the venture.